VOL. XLIII

No. 36

4-September-2000

BAHRAIN

Bahrains Offshore Giants Profits For 1999 Suggest The Worst Is Over...

There must have been an audible sigh of relief in financial circles when Bahrains two offshore banking giants, Arab Banking Corporation (ABC) and Gulf International Bank (GIB), which together hold nearly half of the $90bn of offshore banking assets, reversed their 1998 fortunes with positive 1999 and first half 2000 results. ABC reported a 1999 net profit increase of 348% and has gone...